Can I obtain coverage for Chronic Conditions

Can I obtain coverage for Chronic Conditions

Question: hi, I read that you cover chornic conditions. Does this include pre-existing conditions?
Thanks

Answer: Prime can provide a range of options with regards to
the coverage of Chronic Conditions. A chronic condition is defined as an
illness or disease from which the sufferer will not recover, and for which
there is currently no cure. Examples of a chronic condition would include
Diabetes, Arthritis, and Asthma.

It is important to note that the development of a chronic
condition is usually a sign of age. Traditionally it was uncommon for younger
people to develop the serious chronic conditions (arthritis and heart disease
for example) that were usually associated with elderly persons. As such, many
younger expatriates may consider coverage for chronic conditions to be an unnecessary
addition to their international health insurance policy. However, it is
important to note that should you develop a chronic condition prior to purchasing
a comprehensive health insurance policy, that the condition will then be deemed
to be pre-existing.

There are a number of ways which insurance providers may
deal with a pre-existing chronic condition; these include Exclusion, Moratorium,
Coverage with Loading, or Medical History Disregarded.

The most common way for a pre-existing condition to be
handled under an international health insurance plan is to exclude the
treatment of that condition, and all related symptoms, from coverage under the
policy. This means you will be able to receive treatment for medical issues
unrelated to that condition, but you will not be indemnified for medical costs
associated with the treatment of the pre-existing chronic condition.

A second option which many insurers will use is to place a
moratorium on the coverage of the condition. A moratorium is a waiting period,
typically of 24 months, during which time the condition cannot be covered under
the policy. Typically, if the policyholder completes the moratorium period with
no treatment, medication, or check ups needed, then the insurer may consider
offering coverage for the condition under the policy.

In some cases the insurer may offer to cover the condition;
however this will typically be accompanied by a higher premium. This is known as
“coverage with loading”. It is important to note that not all insurers will
offer this option, and not all pre-existing conditions can be covered by
increasing the policy premium. Typically “coverage with loading” will be
offered on a case by case basis after extensive consultation with the insurance
company.

The final way in which a policyholder can obtain coverage
for a pre-existing condition is through a Medical History Disregarded (MHD)
benefit. MHD is typically only available for group expat health insurance where
the group has more than 20 members. Under an MHD benefit all pre-existing
conditions, including pregnancy in many cases, may be covered under the policy.

For more information about Chronic and Pre-existing
conditions, or to receive a free, customized international health insurance
quote, please contact one of our expert advisors today.